Complaint Review: Maitland Capital - Al Grossman

SCAM WARNING! MAITLAND CAPITAL LTD! BOILER ROOM ALERT!

The company is called Maitland Capital LTD.

First address: 5650 Yonge St. Suite 1500, Toronto, Ontario M2M 4G3

Second address: 161 Eglinton Ave. East, Suite 310, Toronto, Ontario M4P 1J5

The first address 5650, is one of many mail boxes you can rent from a business center.

THE SCAM:

They cold call business owners and investors offering a stock at $2.50 per share. They claim they own oil wells in Alberta and because of rising oil prices you will make 700 % on your money.

Once a poor investor is convinced with the story they provide, the investor is told to wire, or send money in the name of Maitland Capital. Once Maitland Capital recieves the money they pay the broker up to 60 70 % in commissions. None of the money is going to anything they say other then there pockets. They aren't registered with any Securities commission, nore do they file any shares they sell. They don't even give the investor a shareholder certificate after purchase.

I was unlucky and nieve dealing with these scam artist. I invest $2, 500 and my friend $10,000. We got nothing in return. No purchase agreement, share certificate, or our money back.

I reported this company to the Securities commision and nothing happened. I called phone busters, nothing happened, called the police, nothing happened, spoke to a lawyer, and he said they're professional scam artist and to go after them legally wouldn't be worth it. It will cost a lot more then we invested and theres no garuntee we'll get our money back.

So I did my own research and found this info:

The president of the company is named Allen Grossman. Allen and his team was charged in the USA for fraud. They we're part of a huge gem stone scam, where they scammed millions of dollars from inocent investors. The report was televised on the news and such shows as W5.
They are basicly wanted criminals. Now they are hiding out in Toronto, Canada doing another scam called Maitland Capital.

I've called the Ontario Securities commision to ask, why haven't you stopped Allen Grossman and Maitland Capital? There answer was, We've been very busy lately. Good job OSC!

Now I'm not a private investigator and found more on this guys that I would think, the RCMP would be able to just walk in there office and arrest them.
Its so bad, they even called me again. I told them you already scammed me and hung up on them.

Warning to all, if they call you or if you've invested in Maitland Capital contact the OSC emiditly. They can be reached at 416 597 0681. Or Fraud squad at 416 808 7300.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Justice
Winnipeg, Alberta
Canada